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Loblaw Manufacturing has asked you to create a cash budget in order to determine its borrowing needs for the June to Octob period. You have gathered the following information. Month Collections Payments June 2021 $483125 S227500 July 403812 213281 August 344093 199062 September 264468 145188 October 216125 127750 November 235343 April and May sales were $327,031 and 5383,906, respectively. The firm collects 20% of its sales during the month, 65% the following month, and 15% two months after the sale. Each month it purchases inventory equal to 55% of the next month's expected sales. The company pays for 40% of its inventory purchases in the same month and 60% in the following month. However, the firm's suppliers give it a 2% discount if it pays during the same month as the purchase. A minimum cash balance of $25,000 must be maintained each month, and the firm pays 4% annually for short-term borrowing from its bank. a) Create a cash budget for June to October 2021. The cash budget should account for short-term borrowing and payback of outstanding loans as well as the interest expense. The firm ended May with a $30,000 unadjusted cash balance (Analysis 8 pts). b) Bob Loblaw, the president, is considering stretching out its inventory payments. He believes that it may be less expensive to borrow from suppliers than from the bank. He has asked you to use the Scenario Manager to see what the total interest cost for this time period would be if the company paid for 0%, 10%, 30%, or 40% of its inventory purchases in the same month. The remainder would be paid in the following month. Create a scenario summary, and describe whether the results support Bob's belief (Analysis, Identify and Access Needed Information & Use Information Effectively to Accomplish a Specific Purpose 12 pts). c) Interpretation: please describe where you obtained information to develop analyses and interpret the results. Please include your written description in the "interpretation tab. If you do not complete this section with your words or leave the interpretation tab as a blank, you receive 0 point in this HW. H September October November A B C D E F 1 Please complete the yellow highlighted parts. Please show the formulas if the number or figures are not provided in the problem. 2 Loblaw Manufacturing 3 Cash Budget 4 June 2021 to October 2021 5 April May June July August 6 Sales 7 Collections: 8 Cash 9 First Month 10 Second Month 11 Total Collections 12 Purchases 13 Payments: 14 During Month 15 Month After 16 Total Payments 17 Collections 18 Disbursements: 19 Inventory Payments 20 Short-term Interest 21 Other Payments 22 Total Disbursements 23 Beginning Cash Balance 24 Net Additions to Cash 25 Unadjusted Cash Balance 26 Add: Current Borrowing 27 Ending Cash Balance 28 29 Cumulative Borrowing 30 Minimum Cash Balance 31 Discount for Paying in Same Month 32 Annual Interest Rate 33 Monthly Interest Rate 34 35 Total Interest Cost 361 25,000 2.00% 4,00% 0.33% Loblaw Manufacturing has asked you to create a cash budget in order to determine its borrowing needs for the June to Octob period. You have gathered the following information. Month Collections Payments June 2021 $483125 S227500 July 403812 213281 August 344093 199062 September 264468 145188 October 216125 127750 November 235343 April and May sales were $327,031 and 5383,906, respectively. The firm collects 20% of its sales during the month, 65% the following month, and 15% two months after the sale. Each month it purchases inventory equal to 55% of the next month's expected sales. The company pays for 40% of its inventory purchases in the same month and 60% in the following month. However, the firm's suppliers give it a 2% discount if it pays during the same month as the purchase. A minimum cash balance of $25,000 must be maintained each month, and the firm pays 4% annually for short-term borrowing from its bank. a) Create a cash budget for June to October 2021. The cash budget should account for short-term borrowing and payback of outstanding loans as well as the interest expense. The firm ended May with a $30,000 unadjusted cash balance (Analysis 8 pts). b) Bob Loblaw, the president, is considering stretching out its inventory payments. He believes that it may be less expensive to borrow from suppliers than from the bank. He has asked you to use the Scenario Manager to see what the total interest cost for this time period would be if the company paid for 0%, 10%, 30%, or 40% of its inventory purchases in the same month. The remainder would be paid in the following month. Create a scenario summary, and describe whether the results support Bob's belief (Analysis, Identify and Access Needed Information & Use Information Effectively to Accomplish a Specific Purpose 12 pts). c) Interpretation: please describe where you obtained information to develop analyses and interpret the results. Please include your written description in the "interpretation tab. If you do not complete this section with your words or leave the interpretation tab as a blank, you receive 0 point in this HW. H September October November A B C D E F 1 Please complete the yellow highlighted parts. Please show the formulas if the number or figures are not provided in the problem. 2 Loblaw Manufacturing 3 Cash Budget 4 June 2021 to October 2021 5 April May June July August 6 Sales 7 Collections: 8 Cash 9 First Month 10 Second Month 11 Total Collections 12 Purchases 13 Payments: 14 During Month 15 Month After 16 Total Payments 17 Collections 18 Disbursements: 19 Inventory Payments 20 Short-term Interest 21 Other Payments 22 Total Disbursements 23 Beginning Cash Balance 24 Net Additions to Cash 25 Unadjusted Cash Balance 26 Add: Current Borrowing 27 Ending Cash Balance 28 29 Cumulative Borrowing 30 Minimum Cash Balance 31 Discount for Paying in Same Month 32 Annual Interest Rate 33 Monthly Interest Rate 34 35 Total Interest Cost 361 25,000 2.00% 4,00% 0.33%